BNDES launches inclusion of MEIs in emergency credit score program
- August 23, 2022
- No Comment
Operation will be effective until December 2023
The National Bank for Economic and Social Development (BNDES) announces, next Monday, 22, the reopening of the Emergency Credit Access Program (FGI PEAC). The novelty is the inclusion of individual microentrepreneurs (MEIs), in addition to micro, small and medium-sized companies previously contemplated.
So far, 40 financial institutions have already qualified to operate with the line. The program will run until December 2023.
BNDES informed that for a credit operation to be eligible for guarantee by the program, it must be destined to investment or working capital and have a value between R$ 1 thousand and R$ 10 million, with a payment term of up to 60 months and grace period between six and 12 months. The coverage established by the program is 80% of the contract value.
The assessment of the use of the program as a guarantee in credit operations is the responsibility of the operating banks. Each of them should limit the average interest rate on their portfolio to 1.75% per month. With these conditions, the BNDES estimates that R$ 22 billion will be made viable in new credit operations for MSMEs and MEIs by December 2023.
According to the BNDES, the idea of prioritizing guarantee funds for MEIs and MSMEs encourages the Brazilian financial market to operate with these segments. “By granting guarantees to those who earn up to R$ 300 million a year, the FGI/PEAC increases the appetite of banks to grant credit with more favorable conditions to customers”, concluded the institution.
The Emergency Credit Access Program, in its form of guarantees, was established by Provisional Measure 975, of June 1, 2020, converted into Law No. 14,042, in August of that year. Its first period of validity stimulated obtaining credit during the economic crisis resulting from the covid-19 pandemic, aiming mainly to support small and medium-sized enterprises (SMEs), associations, foundations governed by private law and cooperatives, with the exception of credit unions.
The reopening was provided for by Provisional Measure No. 1,114/22, of April 20, 2022, with the purpose of contracting new operations until December 31, 2023.
Source: Agência Brasil